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budget negotiations with congressional leaders started a few weeks ago really with president obama calling for that $1.6 trillion in additional tax revenue over 10 years that you just heard about from john boehner. treasury secretary tim geithner argues that you can not raise enough revenue to reduce the deficit by only doing the loopholes and the tax breaks. and that is the major priority for republicans in this but some senior republican aides said they believe along with spending cuts, compromise would generate about a trillion dollars in new tax revenue, possibly from in parting those tax deductions. bill: where do we go, huh, martha? martha: good question. bill: congressman that broke ranks on one item is with us in 25 minutes. today he has a strong message directed at the white house and president obama. congressman tom colatosti out of oklahoma a bit later here on "america's newsroom.". that is 22 minutes away. martha: we brought you this breaking news on friday and now there's new fallout from that horrible train derailment in new jersey. remember these pictures? emergency official
budget negotiations with congressional leaders started a few weeks ago really with president obama calling for that $1.6 trillion in additional tax revenue over 10 years that you just heard about from john boehner. treasury secretary tim geithner argues that you can not raise enough revenue to reduce the deficit by only doing the loopholes and the tax breaks. and that is the major priority for republicans in this but some senior republican aides said they believe along with spending cuts,...
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of state as soon as this week. meanwhile, republicans are still arguing ambassador susan rice is unfit for the position. >> when it comes to susan rice, i can tell you as far as lindsey graham's concerned, i find great fault with what she said on the 16th of september. >> we'll get the first read for you. plus, we'll play for you the new hillary clinton tribute video that some say is paving a path for 2016. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay. and could save you thousands in out-of-pocket c
of state as soon as this week. meanwhile, republicans are still arguing ambassador susan rice is unfit for the position. >> when it comes to susan rice, i can tell you as far as lindsey graham's concerned, i find great fault with what she said on the 16th of september. >> we'll get the first read for you. plus, we'll play for you the new hillary clinton tribute video that some say is paving a path for 2016. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i...
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the white house has put their proposal out last week. it really drew a hard line, calls for $1.6 trillion in new tax revenue, most of that coming from increasing taxes on wealthier americans, but this republican plan very different, does not call for increasing taxes on wealthier americans. president also wants to end congressional oversight of the debt limit. there's no such offer in the republican plan. in fact, some aides have told me that that is a pipe dream. so these two sides still very far apart. now, tonight, martin, the white house will be inviting members of congress here for the holiday party. house speaker john boehner will be here as well. there have been a lot of questions about whether these two will run into each other, whether they will talk about the fiscal cliff. no one is signaling what they might discuss, but house speaker john boehner when asked about tonight's event said that he thinks he might run into the president. >> no doubt. kristin, we're also hearing that the president has made some reference to the possib
the white house has put their proposal out last week. it really drew a hard line, calls for $1.6 trillion in new tax revenue, most of that coming from increasing taxes on wealthier americans, but this republican plan very different, does not call for increasing taxes on wealthier americans. president also wants to end congressional oversight of the debt limit. there's no such offer in the republican plan. in fact, some aides have told me that that is a pipe dream. so these two sides still very...
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heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so what if we raised taxes a little bit? still be much lower than what americans paid just a generation ago. in 1980, the wealthiest americans paid a marginal tax rate of 70% of their income to uncle sam. now, tax reform under president reagan reduced that rate to 50% and in 1981, and closer to current levels in 1986. today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount. starts 2 s at $251,000. it is on the money you make on the margin. now, while i totally agree every penny counts when it comes to your money, when you compare that to the taxes most americans paid out in past decades, when there was phenomenal economic growth, i don't get why republicans are screaming bloody murder about this 3.6%. what if w
heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so what if we raised taxes a little bit? still be much lower than what americans paid just a generation ago. in 1980, the wealthiest americans paid a marginal tax rate of 70% of their income to uncle sam. now, tax reform under president reagan reduced that rate to 50% and in 1981, and closer to current levels in 1986. today, president obama wants to let the bush era...
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president obama planning to meet with governors next week as par of his effort to talk with people about avoiding the fiscal cliff. members of the national governors' association executive committee meeting at the white house next tuesd, icluding chairman teller governor as well as wisconsin governor scott walker. the president will deliver a speech to the business rodtable was a recap the president has delivered a speech at a toy factory, met with small business owners, middle-class taxpayers, labor union leaders, two groups of business executives on the cliff, but has not met with the republicans with whom he has to deal in order to cut a deal. up next, the house passes legislation to provide visas to emigrants wi advanced degrees. crieof racism from one democrat. we will take it up in the "lou dobbs forum." republicans leading the way on immigration reform. we will take that up as well. on our way to this break, here is our list of the folks the president should also consider meeting with on the fiscal cliff. ♪ lou: in "lou dobbs forum" we will talk about illegal immigration and eff
president obama planning to meet with governors next week as par of his effort to talk with people about avoiding the fiscal cliff. members of the national governors' association executive committee meeting at the white house next tuesd, icluding chairman teller governor as well as wisconsin governor scott walker. the president will deliver a speech to the business rodtable was a recap the president has delivered a speech at a toy factory, met with small business owners, middle-class taxpayers,...
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he and paul ryan met with president obama in washington last week. >>> witnesses say it was terrifying, a crushing tunnel collapse about 50 miles west of tokyo. authorities have recovered nine bodies, most of them from burned vehicles. experts say aging parts in the tunnel could be to blame. the disaster has prompted japanese officials to order emergency inspections of dudsens of other tunnels with similar designs across the country. >>> and here's a sign of the times. the pope is on twitter. the vatican today revealed pope benedict's personal handle is @pontifacts. the vatican said the pope believes the catholic church must be present in the digital arena. that's going to be hard to answer a question about faith in 140 characters. >> he'll probably have 1 million followers in two hours. >> he has more than 230,000 followers and he hasn't even had a single tweet. his name means bridge builder in latin. another name for the pope. >> yeah. i'll follow him. >> i will as well. >> are thank you very much. maybe if i follow him, he'll follow me, too. >> that would be a very great thing. >> m
he and paul ryan met with president obama in washington last week. >>> witnesses say it was terrifying, a crushing tunnel collapse about 50 miles west of tokyo. authorities have recovered nine bodies, most of them from burned vehicles. experts say aging parts in the tunnel could be to blame. the disaster has prompted japanese officials to order emergency inspections of dudsens of other tunnels with similar designs across the country. >>> and here's a sign of the times. the...
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>> it's got to be obama. but in the end, you know, the most important word in all that you just read is "grease," really. i mean, you know, last week here, i made a heartfelt plea in favor of earmarks. and i think that that's how you get big deals done. you know, there are going to be politicians who are going to have to be bought the way abraham lincoln bought politicians with jobs when he got the 13th amendment passed. you know, and certainly for a long-term deal. having said that, let me also say, i'm not so sure we're going to get a long-term deal here. we may just go off the cliff and vote for some tax reductions right after january 1st. no one knows. >> joe, you're going to like this. i threw the lincoln analogy at a close aide to the president last week, and he said, you know, with this republican -- with the way politics of washington are today, there would still be slavery. that lincoln wouldn't have been able to navigate the polarization between the media, between -- it was an interesting and depres
>> it's got to be obama. but in the end, you know, the most important word in all that you just read is "grease," really. i mean, you know, last week here, i made a heartfelt plea in favor of earmarks. and i think that that's how you get big deals done. you know, there are going to be politicians who are going to have to be bought the way abraham lincoln bought politicians with jobs when he got the 13th amendment passed. you know, and certainly for a long-term deal. having said...
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past week or two, sticking to the liberal line, frustrating the republicans clearly. this is a strategy his base might like but i'm wondering will it make him a better deal maker? >> it just may mean that republicans ultimately give him close to what he wants on raising tax rates on the top 2%. president obama has been very clear, he was all the way through the campaign that he would not give in on that. so that's i think what's important now. republicans don't like a lot of what was in the white house's opening offer. they dictate the $50 billion stimulus that was in the offer as a slap in the face. some of these little things we'll see taken out of file deal. >> to that point here's john boehner talking about when he saw that opening offer. >> i was flabbergasted. i looked at him and said you can't be serious. i just never seen anything like it. you know, we got seven weeks between election day and the end the year. and three of those weeks have been wasted with this nonsense. >> okay. >> it's clear he's not pleased from his ha. is the president in danger of going t
past week or two, sticking to the liberal line, frustrating the republicans clearly. this is a strategy his base might like but i'm wondering will it make him a better deal maker? >> it just may mean that republicans ultimately give him close to what he wants on raising tax rates on the top 2%. president obama has been very clear, he was all the way through the campaign that he would not give in on that. so that's i think what's important now. republicans don't like a lot of what was in...
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. >> reporter: president obama wants $1.6 trillion in new taxes on the rich. $400 billion in cuts to entitlement programs such as medicare and $50 billion in stimulus spending. >> the president and white house have three weeks and this is the best we got? >> reporter: the senate minority leader mitch mcconnell laughed at geithner. geithner said if republicans don't like the president's plan it's up to them to present their own ideas. >> what we can't do is figure out what works for them. they have to come tell us what works for them. >> reporter: secretary geithner made it clear there will be no deal that does not include a tax hike on the wealthiest americans. >> there's not going to be an agreement without rates going up. >> reporter: no formal negotiating sessions are on the schedule here and many believe it will take about a week for the real work towards a solution to get under way. now, so much of the talk right now is about taxes, but another aspect of this fiscal cliff is massive, massive defense cuts. that's going to be a topic here in washington today, terrell, when several
. >> reporter: president obama wants $1.6 trillion in new taxes on the rich. $400 billion in cuts to entitlement programs such as medicare and $50 billion in stimulus spending. >> the president and white house have three weeks and this is the best we got? >> reporter: the senate minority leader mitch mcconnell laughed at geithner. geithner said if republicans don't like the president's plan it's up to them to present their own ideas. >> what we can't do is figure out...
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you have heard as i have in the last couple of weeks climate change enthusiasts and even some obama administration people saying this is the moment we can move on this. what signs do you see that that may happen? >> it's interesting. i would say that probably the biggest block for some kind of really significant domestic climate change policy in congress is the fact that a lot of republicans are very concerned about the idea of signing on to something that could be an energy tax. there's also a lot of republicans would are skeptical about the idea that climate science is even true, that climate science even exists. republicans control the house. you need 60 votes to get something in the senate. you need 67 votes to get a climate treaty, an international treaty ratified. >> ifill: do you see a movement coming from the white house to kind of boost this? >> well, it will be very interesting to see what the president does. he did... president obama did talk about climate change in his election night speech. there are signs that he thinks about this as kind of a legacy issue. he's someone who cares a l
you have heard as i have in the last couple of weeks climate change enthusiasts and even some obama administration people saying this is the moment we can move on this. what signs do you see that that may happen? >> it's interesting. i would say that probably the biggest block for some kind of really significant domestic climate change policy in congress is the fact that a lot of republicans are very concerned about the idea of signing on to something that could be an energy tax. there's...
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joe biden shopping at costco last week. did some holiday shopping, and posts pictures with jim senegal and warren buffett's right hnd man and bill gates' dad on the board, too, and receive early dividends and ay less tabs. several reports say the demand for microsoft's surface tablet is so weak that they cut the orders from the asian manufacturer in half. i own microsoft stock. lauren, where is it now? >> 1% and stuart, i feel bad for you, microsoft was the second worst performer in the dow jones for the month of november and needs all of the gains today. and you know, if you've ever walked past time square, i know it's kind of right by where we work. that surface pop-up store from microsoft is always jam packed, i guess it's in a busy area and it's surprising to see they're cutting back on orders. stuart: next time i go in there if i do. i'll press for an early dividend payout of microsoft's 50 billion dollars in cash so some of us can benefit before the end of the year, but i'm not holding my breath on that. all right, la
joe biden shopping at costco last week. did some holiday shopping, and posts pictures with jim senegal and warren buffett's right hnd man and bill gates' dad on the board, too, and receive early dividends and ay less tabs. several reports say the demand for microsoft's surface tablet is so weak that they cut the orders from the asian manufacturer in half. i own microsoft stock. lauren, where is it now? >> 1% and stuart, i feel bad for you, microsoft was the second worst performer in the...
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it has been more than two weeks since president obama invited the major players to the white house to discuss the situation. as of this morning, no new talks are scheduled. brianna keilar joins us. so many republicans say they are pessimistic about a deal happening in time to avert this fiscal cliff. some say it's for political reasons. what can you tell us? >> it may all be for political reasons. that's no surprise in washington. as you can seen through dealmaking not just on this but things in the past couple of years between the white house and congress, there is almost this rhythm that has evolved. both sides are pointing to the other for an impasse. republicans like senator lindeyy graham just slamming the white house and tim geithner for a plan he laid out on behalf of the administration, laying out about $1.6 trillion in new revenues coupled with only about $400 billion in medicare cuts. listen to what graham said. >> i think we're going over the cliff. it's pretty clear to me they made a political calculation. this offer doesn't remotely deal with entitlement reform in a way t
it has been more than two weeks since president obama invited the major players to the white house to discuss the situation. as of this morning, no new talks are scheduled. brianna keilar joins us. so many republicans say they are pessimistic about a deal happening in time to avert this fiscal cliff. some say it's for political reasons. what can you tell us? >> it may all be for political reasons. that's no surprise in washington. as you can seen through dealmaking not just on this but...
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to do a balancedded approach, stealing a line from president obama. what's interesting about the issues is it looks like wall street is now teaming up with the president, despite the fact they supported mitt romney. they are now teaming up -- >> eating you, crawling back? >> looks like they are forcing -- they are forcing the issue, and, basically, supporting the president's position on this for higher taxes on those upper brackets. little bit of background on tom. he was a senior executive at morgan stanley in a very big democratic operative, a senioo executive, then to be hillary clinton's number two of secretary of state, and rumored, rumor, it's in the wall street washington nexus, that if jack lew is treasury secretary, highly likely if you read the tea leaves, he gets jack's job as the chief of staff. interesting meeting. this guy is a key player in the obama administration. you know, there's lots of taj about coming back to wall street. he likes it down there, and he likes working there, and that he wants a higher position, and, you know -- >>
to do a balancedded approach, stealing a line from president obama. what's interesting about the issues is it looks like wall street is now teaming up with the president, despite the fact they supported mitt romney. they are now teaming up -- >> eating you, crawling back? >> looks like they are forcing -- they are forcing the issue, and, basically, supporting the president's position on this for higher taxes on those upper brackets. little bit of background on tom. he was a senior...
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we have a good three weeks ahead of us. maybe a little less for them to posture for two and a half weeks and 48 hours, john boehner and president obama will be on the phone making a final deal. >> so at the end of the day, you think there will be a deal and we don't go over the fiscal cliff. >> i used to think we were going to go over the cliff. i wouldn't put it past them. there is certainly some add vantedage for the going over the cliff for democrats. they can do nothing and what happens? everything expires sequester clicks in and we start for scratch and peput forward the same damn bills, middle class tax cuts and people are put in a position where they have to vote, this is the only thing they can vote for. >> every american if they don't act, if boehner holds his ground, they -- every american every american's taxes will go up. >> that's $2,000 to middle class families january 1st and everybody will know who is responsible. right? >> right. >> president obama, john boehner right here democrats have the advantage here
we have a good three weeks ahead of us. maybe a little less for them to posture for two and a half weeks and 48 hours, john boehner and president obama will be on the phone making a final deal. >> so at the end of the day, you think there will be a deal and we don't go over the fiscal cliff. >> i used to think we were going to go over the cliff. i wouldn't put it past them. there is certainly some add vantedage for the going over the cliff for democrats. they can do nothing and what...
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there's a lot we already knew about that president obama had already taken a public position on. the white house is now saying to republicans as well, we want you to put the meat on the bones when it comes to the entitlement reform portion of this deficit reduction plan. that's politically very tricky, as you know, because a lot of times dealing with entitlements will be construed as cuts to medicare and that's often not very popular. as you can imagine that deal that you just outlined, not received very well by republicans on the hill. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid, and social security from imminent bankruptcy. the president's plan when it comes to entitlement reform is just quite frankly a joke so i don't think they're serious about finding a deal. >> so not really good language you're hearing soledad. house speaker john boehner said he found the proposal flabbergasting. he said it's not serious. but you definitel
there's a lot we already knew about that president obama had already taken a public position on. the white house is now saying to republicans as well, we want you to put the meat on the bones when it comes to the entitlement reform portion of this deficit reduction plan. that's politically very tricky, as you know, because a lot of times dealing with entitlements will be construed as cuts to medicare and that's often not very popular. as you can imagine that deal that you just outlined, not...